CBRE Group, Inc. (CBRE) said it plans to acquire Telford Homes Plc, a developer of multifamily residential properties in London. Telford shareholders will receive $4.41 per share in cash, valuing Telford at $336.9 million or 267.4 million pounds.
Telford will operate as part of the Trammell Crow Company. The acquisition enables Trammell Crow to expand in the UK and Europe.
Telford is focused on opportunities to develop middle-market build-to-rent properties. Di-Stefano will continue to run the business. The acquisition is expected to close in the third quarter of 2019.
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